Crackdown on interest-based private loans demanded
PESHAWAR: Amn Jirga Mardan chairman Syed Kamal Shah on Thursday urged the Khyber Pakhtunkhwa Ehtesab Commission and National Accountability Bureau to crack down on those involved in the illegal act of offering private loans on interest.
During the ‘Guest Hour’ programme of the Peshawar Press Club, Mr. Shah said the passage of the Khyber Pakhtunkhwa Prohibition of Interest on Private Loans Bill 2016 was a commendable act on part of the provincial government, which should ensure the law’s implementation in letter and spirit.
“We will ensure eradication of the curse of interest on private loads given by well-off people to the poor, needy people in different parts of the province,” he said.
The Amn Jirga chief warned his peace body would demonstrate against the Ehtesab Commission and NAB if they failed to crack down on those involved in the un-Islamic and immoral business of offering private loans on interest.
Amn Jirga chief says people have lost land, properties and money to such creditors
He said thousands of people had been deprived of their ancestral land, properties and millions of rupees, while some of them had to lose even their daughters due to inability to pay back interest on private loans.
Mr. Shah said most of the people involved in the illegal business were very notorious in the society and that they wanted to become millionaire overnight by exploiting others, especially the poor people.
He said the people involved in taking interest on private loans usually blackmailed the debtors to seize their property by increasing loan interest many times.
The Amn Jirga chief demanded that Chief Minister Pervez Khattak and Inspector General of Police Nasir Durrani focus on the implementation of the new law and take stern action against its violators by registering FIRs against them.
Flanked by other members of the peace committee, Mr. Shah said he was committed to running a campaign to completely uproot the curse of interest on private loans and urged the people in the province to cooperate with the Amn Jirga for the drive’s success.
The Amn Jirga chief said he remained a member of the provincial assembly but failed to serve the poor people as was desired and therefore, he later decided to form the Amn Jirga to raise voice against the growing incidents of kidnapping for ransom, child marriages, car theft, criminals and people taking interest on private loans.
He claimed the peace body had helped arrest many criminals involved in kidnapping and marriage of underage girls.
Mr. Shah said the girls abducted in Khyber Pakhtunkhwa and shifted to other provinces were forced to become prostitutes.
Published in Dawn, September 23rd, 2016